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Sylvestor Systems borrows $64,000 cash on May 15 by signing a 60-day, 7 %, $64,000 note. 1. On what date does this note mature?

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Sylvestor Systems borrows $64,000 cash on May 15 by signing a 60-day, 7 %, $64,000 note. 1. On what date does this note mature? 2-a. Prepare the entry to record issuance of the note. 2-b. First, complete the table below to calculate the interest expense at maturity. Use those calculated values to prepare your entry to record payment of the note at maturity. Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 28 Interest at Maturity Required 28 General Journal Use those calculated values to prepare your entry to record payment of the note at maturity. (Use 360 days a year. Round final answers to the nearest whole dollar.) View transaction list View journal entry worksheet No Date General Journal A Maturity Interest expense Debit Credit 4,480 Notes payable Cash 64,000 68,480

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